WOW...CHECK THIS NR OUT.
Applies to -- IBM -- IBUI -- MSFT
GGPP and IBM Launch Reverse Auction Portal in Hungary; Small and Medium Businesses to Benefit With Support From IBM Hungary and IBM Solutions Provider Haitec
GGPP and IBM Launch Reverse Auction Portal in Hungary; Small and Medium
Businesses to Benefit With Support From IBM Hungary and IBM Solutions
Provider Haitec
NEWPORT BEACH, Calif., May 18, 2000 (BUSINESS WIRE) -- IBM Hungary (NYSE:IBM)
introduced the Global Group Purchasing Program, GGPP, at a press conference held
in Budapest on May 10 to announce their role in marketing GGPP's web-based
services throughout Hungary. The GGPP is a B2B Buyers' Auction and Internet
Solutions program owned by Global GPP Corp, a subsidiary of Internet Business's
International Inc. (OTCBB:IBUI). The Global Group Purchase Program was designed
to meet the needs of IBM's small- and medium-sized business clients, initially
in Central and Eastern Europe.
At the center of the GGPP is a "reverse auction" e-commerce portal site where
businesses will list the products and services they want to purchase and
suppliers bid for the offer. The system is free to buyers; sellers pay a nominal
commission.
"The GGPP auction model will help Hungarian and other Central and Eastern
European companies reduce purchase time as well as purchasing and sales costs,"
said Albert Reda, Chief Executive Officer of IBUI. "With GGPP, they can leapfrog
into the European Union and North American markets that are their prime targets
for growth. This opportunity is the first of its kind in Central and Eastern
Europe."
In addition, Budapest-based IBM Solutions Provider, Haitec, will provide to GGPP
members free customized Internet strategies and secure web site development
using IBM technology.
"Small- and medium-sized companies will now be able to compete on a level
playing field with the larger companies," said Gabor Mohai, Sales & Marketing
Director for IBM Hungary. "The Internet provides open access to the world
market. IBM sees a substantial business opportunity for connecting Central and
Eastern Europe to the global B2B Internet arena."
According to Zoltan Burian, Business Development Director for Haitec, GGPP
customers can now quickly gain a presence on the web and expose themselves to
new markets. "And this will inevitably change the structure of business
throughout the region by providing faster and borderless communication," he
said.
IBUI is a conglomerate of seven operating companies employing over 70 people in
the United States and Europe in web businesses ranging from mortgage companies
to sunglasses distributors. The company recently expanded an agreement with
Microsoft (Nasdaq:MSFT), giving them exclusive rights for a year to 240 key
words on the MSN search engine. Information on IBUI is available at
ibui.net. The GGPP can be found at ggppworld.com. Address
media inquiries to Dean Draznin Communications: Chris Dardet 561-477-3053 or
Dean Draznin 515-472-2257.
Certain statements in this news release may contain forward-looking information
within the meaning of Rule 175 under the Securities Acts of 1933 and Rule 3b-6
Under the Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other then statements of fact, included
in this release, including, without limitation, statements regarding potential
future plans and objectives of the company, are forward-looking statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
CONTACT: Dean Draznin Communications, Boca Raton, Fla.
Chris Dardet, 561/477-3053
Dean Draznin, 515/472-2257
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
KEYWORD: CALIFORNIA INTERNATIONAL EUROPE
INDUSTRY KEYWORD: E-COMMERCE
INTERNET |
